Eliminating a deflationary trap through superinertial interest rate rules
AbstractThis paper demonstrates that, even in the presence of a zero lower bound on nominal interest rates, central banks can eliminate a deflationary trap by the conduct of interest rate rules that have superinertia.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 100 (2008)
Issue (Month): 1 (July)
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Web page: http://www.elsevier.com/locate/ecolet
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